The word Business Technology means the use of study to create new things that facilitate human beings to run the Business or survive on this planet. Technology plays a most important role in our daily life or Business. Nowadays, we cannot imagine starting a business without the use of Technology.
Now, we discuss the use of Technology in Business. Business in Technology means the application of Technology in your Business to enhance the performance of your employees.
In this article, we understand the concept of Technology and how we can apply this Technology to upgrade your Business or life. First of all, we should know about the importance of Technology.
Importance of Business Technology
At the beginning of the world, people exchanged goods to fulfil their needs, but recently, the world has changed, and people use Technology to achieve their goals. A few years ago back, people worked manually, but the innovation of computers has changed all over the world. Now we cannot compete with your competitors without the Technology. Most of the industries vanished because they cannot apply the Technology.
Application of Technology
Why is Technology the key to success? Let’s discuss the use of Technology in Business.
First of all, you should overcome the communication gap with your workers. You can communicate with your employees with the use of the Internet from live conferences, video calls, etc.
Secondly, you can manage your finance department with Technology. You can give pay to your employees through the online system and save your time.
Thirdly you can use the hidden cameras for the security of your company and also check the loyalty and performance of your employees.
You can use the online forum concept to hire an employee and conduct an interview through the Internet. Mostly, multinational companies go through this procedure and check the abilities for hiring an employee.
You can also store your data on the computer with the help of different software.
Types of Business Technology
There are many types of technologies used in Business. Some of them are discussed below:
1. Hardware:
This technique includes computers, laptops, and other portable devices. Any company cannot achieve its own goals without using a computer or laptop. It become a basic need for your Business.
In the past, people worked manually on paper, but gradually, the system will be changed. Now, companies use desktop computers to do special tasks. When you go anywhere in the world, you can do your work on a laptop and manage it easily.
2. Software:
This technique is opposite to the hardware technique. It works only with special languages called programming languages.
Three types of software are used to do a special task.
System Software is software that runs on your background system or computer. You cannot directly connect with system software. Apple’s iOS and Microsoft Windows are examples of system software.
Application Software is software that directly helps to do a special task in a limited time as MS Word is used to type text, MS Excel is used in accounting to do quick calculations, and MS PowerPoint helps to make a presentation.
Programming Software in which programmers make software using different coding languages such as C++ or JAVA language.
3. Networking:
Networking is a network that creates a connection between two systems. You can share your ideas, documents, files, and many things. The networking includes LAN (local area network) and WAN (wide area network).
4. Finance:
To control the finance department, different companies require the type of tools that help to manage their accounts. Low-level businesses such as shopkeepers used QuickBooks to manage and store the data, but on the other hand, large companies used SAP Business One or SAG Accpac to control the accounts. It depends on your Business which type of tools can be used.
5. CRM (Customer Relationship Management)
CRM is a tool where we can build a relationship with our customers. These types of tools help to know the history of the customer, and you can provide better services. They can also arrange your contacts and see the conversation with the customer. The most common CRM tools are Zoho, Salesforce, HubSpot, etc.
Ideas of Business Technology
Different ideas are used to start a business with the help of Technology. Some of them are discussed below:
1-Web Developer:
If you know HTML, CSS, and JAVA script, then you can start your Business as a web developer. Web developers work as freelancers or also work with other companies. Web developers design websites and earn a handsome amount. From 2021-2023, most people choose carriers as web developers, and day by day, their demand increases.
2-Food Technology:
With the help of food science, we can store and preserve our food, and we can start a food business with the use of this Technology. If you work at home, you can provide a tiffin service and also become a food blogger and this is the most demanding Business in all over the world.
3-Artificial Intelligence (AI):
Artificial Intelligence (AI) is the modern Technology that manipulates your Business and increases the efficiency of your company. You can satisfy and answer your customers by the use of AI. It also helps to create new content for your websites.
4-Robotics:
Robotics also play a vital role in your Business because robots work vastly instead of humans, and the chance of mistakes is very low. You can use robots in many businesses, such as in restaurants, hospitals, schools, universities, and many other places.
5-Unmanned Aerial Vehicle (UAV):
UAV is also called drones. Drones are used in many ways for civilian or military purposes. Suppose you know how to use the camera of a drone, then you can provide many services. Like you can rescue victims whom humans cannot reach. Drones help to rescue them and also help the customers give the products at the door.
6-Social Media:
Social media is a unique Technology to share ideas, feelings, and information with your followers. If you do not know about SEO, then you become a social media consultant and connect with different companies and social media sites (such as Facebook, YouTube, and TikTok) to promote their sites with likes, shares, and subscribers.
Afterwards, you can also create a social web page to entertain your followers and also become a YouTube vlogger. After COVID, the global world changed, and most people have nothing to do these days. So, they take an interest in online platforms and earn through online networks.
7-Online Teaching System:
Suppose you have any knowledge about food, study and something else. You can create your channel on any website to earn a handsome amount. Some organizations also give online lectures to students to enhance their abilities, and you can also become a team member of that type of organization.
8-Mobile Technology:
With the invention of smartphones, the whole world comes into your hands, and with one click, you go to a new world. If you have a basic knowledge of mobile apps, you can do your work on your phone without wasting your time. You can also connect with your team from any corner of the world and give tasks to your team.
9-Antivirus Technology:
Antivirus is a technique that protects your computer or any other system that contains important files from any other hacker or virus. Different programming languages create antivirus. If you know about computer programming languages, you can create antivirus software and sell them to any organization and earn a handsome amount.
10-Portable Battery Devices:
Nowadays mobile phones are the basic need of any business. Suppose you have travelled anywhere and, unfortunately, your mobile phone battery died, and you did the important work that is necessary for your Business. In that case, you must have a portable device that can be connected to your phone or laptop to be charged. That type of Technology helps us to connect with our team and manage all other things.
Suppose you have any skills to make that type of device that you introduce in the market and also in the online platform. You can create your mini-industry at your home.
Technological Companies:
Different famous companies provide us with new technologies to improve our skills and upgrade our Business. Some of them are discussed below:
Apple:
Apple is an American Company that provides us with iPhones, iPads, iOS, macOS and many more things. Their headquarters is located in California. The founders of this company are Steve Jobs, Steve Wozniak and Ronald Wayne.
Shopify:
Shopify is an E-commerce company that gives you a chance to start your Business at this site. On this site, you can plan your business strategy and sell your products, but the relationship with the customer is good. The headquarters is present in Ottawa, Canada. The founders of this company are Tobias Lutke, Scott Lake and Daniel Weinand.
Salesforce:
Salesforce is a software that, based on the concept of SaaS, means software-as-a-service. It works as a customer relationship management (CRM). They provide customer views about their products and also tell the customer demand. It is a cloud-based software company, and the headquarter of this company is present in San Francisco, California.
Microsoft:
Microsoft is an American company which is located in Redmond, Washington. The founders of this company are Bill Gates and Paul Allen. This company give licenses for software and devices and provides the latest Windows to do many tasks.
Pros and Cons in Points
| Pros It is easy to communicate with clients. It saves time to complete the task. It increases Productivity. It increases the availability of social networks. Data storage and management easily. | Cons It increases the risk of loss of data. Dependency on the Internet. Chances of distractions of staff increases. It is costly to upgrade software. Unemployment increases. |
Pros of Technology in Business
Here, we discuss some advantages of Technology in Business that are helping the growth of Business.
1)Ease of Communicate:
When we start any Business, firstly, we communicate with our clients. If you cannot properly communicate with your staff or clients, your Business cannot run.
If you are a freelancer, you can communicate with your clients through social networks such as Skype, video call chat, etc. You also create a conference call to discuss the points with your staff.
2)Time Management:
Modern technologies save us time in completing the task. For example, in the past couple of days, you were required to transfer important documents, but nowadays, within a few seconds to share the important files and vastly proceed with the work. Hence, it saves your time, and the Productivity of your business increases.
3)Increases Productivity:
Your Productivity and efficiency of the company increase by using Technology. If you can enter data manually on paper, it takes more time, and the chance of mistakes increases, but in the case of using Technology, you can enter more data and save your time, and the data should be error-free. Automatically, technologies enhance the Productivity and efficiency of your Business.
4)Availability of Social Network:
With the help of social networks (Facebook, Twitter, Instagram), you can advertise your Business and directly convey your message to your clients. You can easily check customer reviews and fulfil the demands of your customers.
5)Data Storage and Management:
Technology plays a vital role in storing data and easily managing all the data. A few years ago, one room was fixed for storing the data and creating a massive, but today, we are using different software to execute data, and this software automatically manages all the stuff.
Cons of Technology in Business
When we use any technology, it gives us more benefits as well, and some misuse of Technology also occurs. So now we discuss some disadvantages of Technology:
1)Risk of Loss of Data:
Nowadays, Technology is more advanced, and the risk of the chance of loss of data increases. Hackers hacked the system and stole all important files within a second.
2)Dependency on Internet:
Our dependency on the Internet increases day by day, and we become lazy with employees. If Internet service is not available, then employees cannot work properly because they are addicted to Technology. The skills of employees are also affected.
Our overall system is disturbed by the lack of Internet and the wastage of time.
3)Distraction:
When internet services are available, the chance of distraction of employees increases. They spend their time on social networks such as Facebook, checking emails, searching on Google, etc. They also affect their efficiency and cannot complete the task properly.
4)Upgrading Technology Costly:
If you already use Technology to enhance your business productivity it is costly to upgrade Technology.
For example, if you start a business, machinery or software purchases which is costly, and also you must train the employees for the best application of Technology. If you have also worked with the software, then you must upgrade the software and also train your staff how to use this Technology.
5)Unemployment:
When you have done all the work with the technologies, then one person is hired to handle the software and the risk of unemployment increases.
Before the 21st century, when Technology was not introduced in small industries only multinational companies used this Technology. So, no. of people hired to do the task and those persons who have no skills have also adjusted in industries. Still, recently, everyone knows about the importance of Technology; therefore, when one person covers all the tasks, then the chances of unemployment increase.
FAQS: Frequently Asked Questions
How does Technology play an important role in Business?
Technology plays a crucial role in our Business. It helps to perform many tasks with accuracy. It saves our time and gives us a planned strategy to grow our Business rapidly.
What is cloud computing, and how can it help my Business?
Cloud computing is software that helps to store and organize data, helps to keep safe records, and gives backup procedures.
What challenges do businesses face in adopting new technologies?
Firstly, they face the problem is purchasing of a technique that is costly and also training their employees to understand and implant the Technology.
How can a business stay updated with evolving technology trends?
You can be updated by listening to news and attending seminars about emerging technologies. It helps to search for more beneficial techniques for your Business.
Conclusion
From this article, I conclude that Technology has many benefits as well as some effects on our Business. It depends on your task on how to use the Technology in your Business. It will give more advantages if you improve your skills when new software comes into the market. Then, you will achieve more goals and earn more money within a short time.
You also overcome the disadvantages of Technology to check and balance your employees to increase efficiency. Also, you can use hidden cameras to check their activities. Choose the talented employees to give the training to enhance their communication skills, professional and soft skills. These things upgrade your Business and you will get more profit.
